To the Editor,

I received the Notice of Assessment the other day and discovered that my property tax increased by 60 percent. I question if the assessor’s office has taken into account any of the following in determining the assessed value of my home:

Freddie Mac announced that its Conventional Mortgage Home Price Index (CMHPI) Classic Series : East North Central Division (IL, IN, MI, OH, WI): decreased 0.9 percent (-3.4 percent, annualized) in the third quarter of 2007.

The decline in the S&P/Case-Shiller® U.S. National Home Price Index — which covers all nine U.S. census divisions — neared double digits, posting -8.9 percent versus the 4th quarter of 2006, the largest decline in the series 20-year history. During the 1990-91 housing recession the annual rate bottomed at -2.8 percent. The 10-City Composite also set a new record, with an annual decline of 9.8 percent. In December, the 20-City Composite recorded an annual decline of 9.1 percent.

Michigan is in the 20-City Composite which shows that the Home Price Index has decreased by 9.1percent.

Did you know that the Office of Federal Housing Enterprise Oversight published a report noting the property values in Ann Arbor decreased 7.09 percent; Monroe 6.90 percent, and Flint 6.42 percent. I believe Detroit was rated at 11.1 percent.

In addition did they take into account that the Michigan State panel, in December of 2007, changed the rules to allow sales of foreclosed homes — usually at depressed prices — to be part of the mix in figuring assessments, a move that could help drive down property assessments in some communities as much as 8 percent.

The State Tax Commission also gave assessors authority to use sales studies based on just one year, not two years, of sales.

My question is did the Assessor’s office read the Tecumseh Herald and see all the foreclosures every week?

Please note, if you want to dispute the SEV you need to write or fax or show up in person to protest the Local Board of Review which will meet at City Hall on March 11 and March 12, 2008. Property owners may protest to the Board of Review by letter or fax by March 26, 2008. To protest in person you need to call 424-6543 for an appointment.

The economy stinks, our jobs are on the line, the price of everything continues to rise, the state keeps taking services away and charging more for it. What’s up with this?

Erika Engelhardt
Tecumseh